Loading chat...

AZ HB2729

Bill

Status

Introduced

2/7/2023

Primary Sponsor

Seth Blattman

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - First Regular Session (2023)

AI Summary

  • Adds definition of "same-day lender" to Arizona law as a lending company that lends $3,000 or less for a short period with finance charges higher than standard rates.

  • Requires consumer lenders and same-day lenders to be examined at least once every five years to ensure compliance with federal military lending protections under 10 U.S.C. § 987 and 32 CFR Part 232.

  • Establishes that enterprises, licensees, and premium finance companies extending consumer credit to covered military members or their dependents must comply with federal military lending laws, with violations treated as unlawful practices under consumer protection law.

  • Grants the Arizona Attorney General authority to investigate and enforce violations of military lending requirements through the state's consumer protection enforcement procedures.

  • Creates Title 44, Chapter 32 establishing state-level military lending protections mirroring federal requirements for consumer credit extended to active duty service members.

Legislative Description

Consumer credit; military; federal law

Military

Last Action

House read second time

2/8/2023

Committee Referrals

Rules2/7/2023
Military Affairs and Public Safety2/7/2023

Full Bill Text

No bill text available